Using social media as a marketing tactic is of core importance. As of the most recent report by Statista, the number of internet users worldwide is 3.5 billion, of which 2.3 billion are active social media users. Just having your brand on social media is not alone enough, marketing it well and tracking changes of of utmost importance.
To make sure that your social media effort pays off, and also to determine which social media tactic is working better and giving you high return, you must keep an eye on these 3 important metrics:
1. Engagement Level
Primary function of any social media account is to generate engagement (follow, likes, comments, shares)–instigate and then maintain it.
Keep a track–not by manually going through every platform, instead make use of analytical tools provided by each platform (Facebook, Twitter, Google+, Instagram) to get better insights. Track the engagement, go back and check which posts worked well with your audience and which did not and what necessary changes you must take.
There are many factors which determine the reasons behind the success or failure of a particular content. Many studies share insights stating the time and date when the content should be shared for maximum engagement. But, best is not to rely on it completely. Do take note of the following things:
- Monitoring your own content and experimenting it at different time zones and days is best–as you best know your audience.
- Post during the hours when there is less likely to be more traffic from your competitors–this will improve its chances of gaining more visibility on timeline.
- Post during the hours when people are most likely to check their social platform–while commuting, early morning hours, lunch hours etc.
2. Economic Value
Even from social media, the company wishes to make money, though not a core priority but it holds importance. Achieving conversion on social media is tough but not impossible. Ensure that all your posts have an appropriate CTA (call to action) for people to prompt to take an action.
Once the conversion is made, it can be tracked by analytical tool like Google Analytics which gives you an in dept data; from the time the user spent on the website to the amount of purchase made by him.
You must know that the journey to conversion is not as easy as a click and then convert. People browsing through their social media profiles are mostly on a discovery mode and not much on a buy now mode. Therefore, expecting a decision on first point of contact is not justifiable, for them to convert, the number of interaction has to be many.
Comes the old school marketing rule, The Rule of 7, but achieving this in the digital age is easy as compared to old times by establishing contact more number of times by sharing, and interacting with the potential customer.
3. Search Volume
It is a dream of every brand to see a spike in its ‘search results’ (of course for good reasons). The whole idea behind creating an online presence is to see more people searching and talking about you. Keep a track on your search volume with the use of tools like Google Analytics, If you see a spike, check back on the recent changes made by you on social media to find the exact reason.
While maintaining the reputation of your company–many social marketing tools such as ‘Sprout Social’, ‘Social bakers’ also help track ‘keywords’ for negative review and enable you to create separate dashboards for your competitors so that you can track key findings of their campaigns and work on improving your presence.
Tracking the progress and effect of your social media campaign is of prime importance and keeping an eye on these three things will definitely help you improvise or (take credit) when due.
Do share your thoughts!